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The Dynamics of an Open Access Fishery Author(s): Trond Bjørndal and Jon M. Conrad Source: The Canadian Journal of Economics / Revue canadienne d'Economique, Vol. 20, No. 1 (Feb., 1987), pp. 74-85 Published by: Blackwell Publishing on behalf of the Canadian Economics Association Stable URL: http://www.jstor.org/stable/135232 Accessed: 28/06/2010 17:09
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The dynamics of an open access fishery
TROND BJORNDAL Norwegian School of Economics JON M. CONRAD Cornell University

Abstract. A discrete time non-linear deterministic model for an open access fishery is developed and the equilibrium is characterized. The open access exploitation of North Sea herringduring the period 1963-77 is analysed. Alternative production functions are considered and estimated for the Norwegian purse seine fishery. The bionomic equilibrium and approach dynamics are presented when prices and costs are changing. The results indicate that the resource stock was saved from possible extinction by the closure of the fishery at the end of the 1977 season. est Sur ladynamiqued'une zone de peches quand l'entr&e libre. Les auteurs d6veloppent un modele deterministe non-lineaire en temps discret d'une zone de peches oiu l'entr6e est libre et definissent les caract6ristiques de l'equilibre. L'exploitation du hareng de la Mer du Nord qui s'est faite sans entraves a l'entree pendant la periode 1963-1977 est analys6e avec ce modele. Des fonctions de production de rechange sontexaminees et calibrees pour la peche a l'essaugue par la flotte norvegienne. L'equilibre bionomique et la dynamique de l'approche 'acet 6quilibresont examines dans un univers oiules prix et les couitssont changeants. Les r6sultats de l'analyse montrent que le stock de ressource a echappe a la disparition possible grace a la fermeture de la zone de peches a la fin de la saison de 1977.
INTRODUCTIONOpen access exploitation of common property fish resources frequently causes severe stock depletion. Indeed, the question whether open access may cause stock extinction has been analysed by several authors (Smith, 1968 and 1975; Berck, 1979; Hartwick, 1982). Moreover, as Smith (1968) has pointed out, although stock equilibrium under open access may be positive, the stock may be driven toextinction along the path of adjustment. Stock equilibrium may also be stable and positive with fixed prices and technology and still drift towards extinction over time, since these fixed variables drift in the long run.
Canadian Journal of Economics Revue canadienne d'Economique, xx, No. I February fevrier 1987. Printed in Canada Imprime au Canada

0008-4085 / 87 / 74-85 $1.50 ? Canadian...